The Government has launched the Competitive Start Fund, a €500,000 initiative aimed at encouraging entrepreneurs outside Ireland to locate their start-up businesses here.
The Fund will provide up to €50,000 in equity support to 10 successful applicants to start their own businesses in internationally focused manufacturing or internationally traded services.
The new Fund is part of Enterprise Ireland’s strategy for increasing the number and quality of High Potential Start-Up Companies (HPSUs) that have the potential to employ more than 10 persons and achieve €1 million in export sales within three years.
The Competitive Start Fund awards will coincide with the Startup Gathering, a week of events taking place across Ireland from 5-10 October.
Applications for the Fund will be made online and 20 finalists will be invited to Ireland to pitch competitively to a panel of experts. Each of the finalists will receive €1,000 to cover their travel expenses.
Kevin Sherry, head of High Potential Start Ups at Enterprise Ireland, said: “Each year Enterprise Ireland supports over 400 start-ups. By introducing a specific fund targeting overseas entrepreneurs and the Irish diaspora, Enterprise Ireland is strongly promoting Ireland to entrepreneurs as a great place to start a business. We are looking for new start-up companies to locate in Ireland where our world-class start-up ecosystem will allow them start, scale and succeed – ultimately providing valuable jobs here into the future”.
Online applications open on Wednesday 26 August and will close on Wednesday 9 September 2015.
Full details on the eligibility criteria is available at www.enterprise-ireland.com/csfoverseas.
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